The well-known Ebb Tide Motel on West Pt Loma is up for sale, along with the adjoining apartment building. Together, the properties are being offered for $8,750,000.
And together they include a total of 23 units — the motel has 15 and the multi-family building has 8.
Not only that, the in-place TOT license is being offered for short-term rentals. The offer makes this statement:
A buyer may have the option to utilize the in-place TOT license and run short-term rentals (AirBnB, VRBO, etc.) or convert the units into true apartments. With great parking, ocean views, and steps from the beach, a buyer can develop a substantial increase in gross income.
The “multi-family” building is at 5074-80 W Point Loma Blvd., has 5,690 square feet and was built in 1978.
The Ebb Tide Motel itself is at 5082 W Point Loma Blvd. includes 7,252 square feet and sellers claim it was built in 2002. (It seems to this writer, that it’s been around a lot longer than that.)
An online advertisement states:
The Ocean Beach Ebb Tide Motel is set up as an extended stay location with full kitchens and separated living areas in most units.
This block is located in the unique RM-5-12 zone which has traditionally allowed for “visitor accomodations”. Of course the city doesn’t consider vacation rentals to fit that category, even though they look exactly the same and are often both listed on Airbnb. A buyer here would not be required to obtain STRO licences unless they permitted the units as apartments. Clear as mud eh?